The vehicle model on the policy is a large factor when shopping for the most affordable auto insurance for drivers requiring a SR22. Vehicles with lots of horsepower, poor crash test ratings, or a history of substantial liability claims will cost substantially more to insure than safer, lower-performance models. The table below features insurance costs for the cheapest automobiles to insure in Texas.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$2,890|
|Ford Escape XLT 4WD||$2,923|
|Honda Accord LX-P 4-Dr Sedan||$3,026|
|Ford Edge SEL AWD||$3,391|
|Chevrolet Impala LT||$3,423|
|Chevrolet Malibu LS||$3,429|
|Toyota RAV4 Sport 2WD||$3,423|
|Ford F-150 STX Super Cab 2WD||$3,464|
|Dodge Grand Caravan SE||$3,503|
|Honda Civic LX-S 4-Dr Sedan||$3,543|
|Ford Focus SEL 4-Dr Sedan||$3,553|
|Jeep Grand Cherokee Laredo 4WD||$3,586|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$3,608|
|Honda Odyssey Touring||$3,614|
|Ford Explorer Limited 2WD||$3,621|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$3,629|
|GMC Sierra 3500HD SLE Regular Cab 2WD||$3,643|
|Chevrolet Equinox LT AWD||$3,672|
|Hyundai Elantra GLS 4-Dr Sedan||$3,749|
|Volkswagen Jetta SE 4-Dr Sedan||$3,783|
|Chevrolet Silverado LTZ Crew Cab 4WD||$3,788|
|Ford F-350 Super Cab Cabela Package 2WD||$3,820|
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Price data assumes single female driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Estimates do not factor in vehicle garaging location which can increase or decrease premium rates greatly.
Looking at the numbers, you can infer that makes and models like the Honda CR-V, Ford Escape, Honda Accord, Toyota Prius, and Ford Edge are likely to be the most affordable vehicles to insure for high risk drivers. The price for an auto insurance policy will be more costly because there is a higher risk for drivers requiring a SR22, but generally speaking those specific models will probably have the best rates compared to other types of vehicles.
For high risk drivers, one of the big factors that aid in calculating the annual cost of car insurance is the neighborhood you call home. Regions with more people or even just more weather-related claims tend to pay slightly more, whereas areas with less congestion have the benefit of cheaper car insurance.
The table below shows the highest-priced places in Texas for drivers requiring a SR22 to purchase auto insurance in. Plano is listed at #21 having an annual price of $1,576 for the average insurance policy, which is around $131 per month.
|Rank||City||Average Per Year|
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Rate information is estimated as specific Plano garaging address can increase or decrease coverage rates considerably.
Finding good, low-priced auto insurance is easier said than done, and deciding which company has the best car insurance rates for drivers requiring a SR22 may require a bit more work. Every insurance company uses their own formula for determining rates, so first we will examine the car insurance companies with the overall best prices in Texas.
We do need to point out that Plano car insurance rates are influenced by many factors which can significantly increase or decrease the cost of having a policy. Turning one year older, buying a higher-value vehicle, or getting a driving violation can trigger rate changes that can now make some companies more expensive than competitors.
Best Auto Insurance Prices for SR22 Drivers
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
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Travelers generally has some of the cheapest car insurance rates in Plano at around $1,052 per year. This is $852 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also qualify as some of the cheaper Plano, TX car insurance companies.
As the example above demonstrates, if you are insured with USAA and switched to Travelers, you may realize an annual premium reduction of in the neighborhood of $43. Drivers with Texas Farm Bureau might save as much as $183 a year, and Germania Mutual customers might see rate reductions of $204 a year.
It’s important to note that these prices are averages for all drivers and vehicles in Texas and and are not figured with an exact location for drivers requiring a SR22. So the company that can offer you the lowest price may not even be in the top 23 companies shown above. That underscores the importance of why you need to get rate quotes from many companies using your own driver data and vehicle information.
The chart below demonstrates how deductible levels can increase or decrease insurance rates when quoting cheap insurance for drivers requiring a SR22. The premiums assume a single male driver, comp and collision included, and no discounts are applied.
A 50-year-old driver could lower their policy premium by $374 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $564 by choosing a $1,000 deductible. Even younger drivers, such as the Age 20 example, can save as much as $1,236 each year by selecting a higher deductible. When raising deductibles, it will be important to have enough funds in savings to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Types of discounts on Plano auto insurance rates
Insurers that sell policies for drivers requiring a SR22 may provide special discounts that could reduce prices by as much as 35% if you meet specific eligibility requirements. Larger car insurance companies and their offered discounts are included below.
- American Family may have discounts that include defensive driver, good driver, bundled insurance, mySafetyValet, and air bags.
- Nationwide offers discounts including good student, Farm Bureau membership, family plan, multi-policy, easy pay, and defensive driving.
- MetLife may include discounts for accident-free, multi-policy, claim-free, good driver, and good student.
- 21st Century offers discounts for 55 and older, driver training, defensive driver, automatic seat belts, theft prevention, homeowners, and good student.
- Farmers Insurance may offer discounts for switch companies, early shopping, alternative fuel, bundle discounts, distant student, mature driver, and multi-car.
- Allstate has savings for teenSMART discount, anti-theft, passive restraint, premier plus, good payer, and anti-lock brakes.
The example below compares insurance prices with and without discounts being applied to the rates. The data assumes a male driver, three speeding tickets and one accident, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with vehicle safety, paperless filing, continuous coverage, anti-theft, homeowner, and multiple policy discounts applied. When taking advantage of discounts, theaverage amount saved on car insurance for drivers requiring a SR22 is 28% or $807.
What is the best car insurance company in Plano?
Insuring your vehicle with the best insurer is difficult considering how many different insurance companies sell coverage in Plano. The company information in the lists below could help you analyze which coverage providers you want to consider when trying to find the cheapest insurance for drivers requiring a SR22.
The rankings below are only made up of large nationwide companies, so companies with more of a regional focus will not be included in the list. To get price quotes from the insurers below and more, click this link.
Top 10 Large Auto Insurance Companies in Plano Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Auto Insurance Companies in Plano Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+